$454M

[ecu1984]

Trump's $454M fine or bond to appeal his NY fraud case is due on Monday.
He says, 30 companies have turned him down and he doesn't have it.
The D.A. says she is going to move swiftly to seize his properties and auction them off.
Will also freeze and seize all bank accounts of the Trump organization, including redirecting
rents that are paid to his real estate holdings.
Whether you like him or not, innocent or guilty........ this amount was beyond ludicrous and he is being railroaded.
This in itself is a crime

[bitesize]

Scary

[Gander]

This is the 2024 insurance policy in full effect. Curious to know how the 454 million was determined. The super rich keep their assets tied up with investments. To think Trump would have that kind of liquid cash just sitting in a bank account speaks to the absurdity of this entire case.

[MolliesMaster]

Come on guys, he's got to pay his fair share.

[wdhigh]

Come on guys, he's got to pay his fair share.

Lol

[bitesize]

What’s scary is I’m sure Trump is doing nothing different than any other private RE Fund or REIT out there when it comes to valuing property. Commercial RE is heading for a bad place in the coming months/years. What’s even more scary is the amount of pension money/ public sector investment in said CRE assets.

[Saltydog235]

IF he is elected president again, I would hell hate to be one of these people that have been behind this railroading.

[wob]

Next up... NY crying about businesses leaving and no new ones coming. Who in their right mind would set up shop in a state that would do this?

[ecu1984]

IF he is elected president again, I would hell hate to be one of these people that have been behind this railroading.

don't you know it!

[ecu1984]

Curious to know how the 454 million was determined.

the amount of savings on rates and premiums he pocketed by over inflating for many years

[Carolina Counsel]

He just needs to get the IPO for Truth moving fast and he should be golden. Something like $8B valuation even though its sales are next to nothing and obviously not profitable. That’s the Train supporting its engineer.

[Catdaddy]

What’s scary is I’m sure Trump is doing nothing different than any other private RE Fund or REIT out there when it comes to valuing property.

Claiming your penthouse has 33,000 sq ft when it actually has 11,000 sq ft. might be a little over the line.

Some might even say you flat out lied.



Sent from my motorola edge plus 5G UW (2022) using Tapatalk

[WoodieSC]

the amount of savings on rates and premiums he pocketed by over inflating for many years

Yes, theoretically, but also the amount that all of the banks were willing to forego in order to get his business. So, as has been asked by many, where are all the victims versus all of the people who benefitted from their resultant wages, et al?

[Gander]

So does the state of New York pocket the money? Or does that money go to the banks that provided the loans?

[ecu1984]

So does the state of New York pocket the money? Or does that money go to the banks that provided the loans?

NY

[ecu1984]

$98M of it is interest backdated
falsifying business records, issuing false financial statements, conspiracy to commit insurance fraud and conspiracy to falsify business records were among the charges.
Engoron found that Trump’s phony wealth claims were critical to his success, affording him lower loan interest rates and allowing him to build projects he wouldn’t have otherwise been able to finish. The judge determined that those savings and windfall profits were “ill-gotten gains”.
What he must pay
— $168 million, plus interest, in savings on loans he obtained using his inflated financial statements for a golf resort near Miami, a Chicago hotel and condominium tower, a Washington, D.C. hotel and a Manhattan office building. Trump obtained three of the loans through Deutsche Bank’s private wealth management unit, which offered lower interest rates than its commercial real estate division, and used his financial statements to show the bank he was wealthy and a good credit risk.

— $126.8 million, plus interest, in profit from selling the Trump International Hotel in Washington in May 2022 to a company that now operates it as a Waldorf Astoria. Trump used $170 million of the $375 million to pay off a loan on the property. Other proceeds went to his children.

— $60 million, plus interest, from selling the rights to manage a New York City golf course in June 2023. Engoron noted in his ruling that the buyer, Bally’s Corporation, stands to pay Trump an additional $115 million if it obtains a casino license for the property. However, he did not say if he would require Trump to give up that money, too.

Trump’s sons, Eric and Donald Jr., must each pay a little over $4 million, plus interest, to the state for their shares of the Washington hotel sales.

[Gander]

The interesting element in all this, is that the lender didn't verify the valuations. Is it possible they didn't care?

[mello_collins]

This should be an 8th amendment case

[tprice]

The interesting element in all this, is that the lender didn't verify the valuations. Is it possible they didn't care?

I can see where all the crap started flying in this one a big hair did not help by trashing everyone against him BUT end of day the institutions were ok with these values. Blame them for not doing their due diligence which to me would be criminal in their line of work


Entire fiasco reminds me of the Showtime series Billions, makes you wonder of DJT and Stormy were into “Water sports” (opening scene in the Billions Series ) LOL


Serious question, if DJT is elected POTUS would he have the authority to overturn something like this ?

[tprice]

Next up... NY crying about businesses leaving and no new ones coming. Who in their right mind would set up shop in a state that would do this?

Same in California as well, hopefully voters can see WHY. Article in P&C few weeks back said SC is having big influx of folks from these 2 states and most state cost of living and POLITICAL CLIMATE here. Shows we are smartest state in the Union